Daqo New Energy (NYSE:DQ) Shares Gap Down – Time to Sell?

Daqo New Energy Corp. (NYSE:DQ) shares gapped down before the market opened on Tuesday . The stock had previously closed at $22.23, but opened at $21.16. Daqo New Energy shares last traded at $21.45, with a volume of 113,653 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on DQ shares. Daiwa America raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Daiwa Capital Markets raised Daqo New Energy from a “neutral” rating to an “outperform” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $22.26.

Daqo New Energy Trading Down 6.9 %

The company has a market capitalization of $1.37 billion, a PE ratio of -11.15 and a beta of 0.25. The stock’s fifty day moving average is $19.01 and its two-hundred day moving average is $18.73.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DQ. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Daqo New Energy in the 4th quarter worth approximately $52,000. Signaturefd LLC increased its position in Daqo New Energy by 27.3% during the third quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 602 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Daqo New Energy by 132.3% in the 3rd quarter. Blue Trust Inc. now owns 4,567 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 2,601 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Daqo New Energy by 15.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock worth $214,000 after purchasing an additional 1,400 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in Daqo New Energy by 66.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company’s stock valued at $285,000 after purchasing an additional 5,570 shares during the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.

About Daqo New Energy

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.